MOSCOW, August 15 (RIA Novosti) - OGK-5 net profit, calculated to Russian Accounting Standards, increased 18.1%, year-on-year, in the first half of 2007, to 739.7 million rubles ($29 million), the country's largest wholesale generating company said Wednesday.
Pre-tax profit grew 19%, to 1.3 billion rubles ($52 million). Gross profit rose 52%, to 1.9 billion rubles ($74.5 million) compared to January-June 2006, while credit debt declined 23%, to 1.9 billion rubles ($77 million).
OGK-5 includes four thermal power plants with a total capacity of about 8,700 megawatts and is one of the best assets spun off from electricity monopoly Unified Energy System, which holds a 50% stake in the company.
